Utilizing Phrase Tokens in Transactions

1. A system for facilitating transactions comprising: a computing system, having a processor and a memory, for executing programmable instructions that implement a data store, the data store including processing information associated with one or more transaction phrase tokens, wherein the one or more transaction phrase tokens are associated with transaction accounts via the processing information, and wherein at least one transaction phrase token of the one or more transaction phrase tokens consists of an unambiguous set of characters selected in its entirety by a transaction phrase token holder; and a computing system, having a processor and a memory, for executing programmable instructions that implement a transaction phrase token processing service, the transaction phrase token processing service processing a request from a requestor to complete a transaction related to a good or service, wherein the request includes a representation of a selected transaction phrase token provided verbally or in writing by a transaction phrase token holder to the requestor, wherein the transaction phrase token processing service accesses the processing information associated with the selected transaction phrase token, wherein the processing information associated with the selected transaction phrase token: identifies a transaction account associated with the selected transaction phrase token based on a transaction account identifier distinct from the selected transaction phrase token, and comprises one or more rules for processing transactions related to goods or services, and wherein the transaction phrase token processing service: identifies a rule from the one or more rules included in the processing information, wherein the identified rule is associated with the good or service related to the request; processes the request using the identified rule; sends an approval request to the transaction phrase token holder regarding the processed request; receives a response to the approval request from the transaction phrase token holder; updates the identified rule based at least in part on the response to the approval request that is received from the transaction phrase token holder; and automatically accepts or rejects a subsequent request to complete a transaction based at least in part on the update of the identified rule.

2. The system as recited in claim 1 , wherein the transaction account is controlled by the transaction phrase token holder.

3. The system as recited in claim 1 , wherein the transaction includes a transfer of control of an agreed upon element from a party other than the transaction phrase token holder to the transaction phrase token holder.

4. The system as recited in claim 3 , wherein the transaction phrase token processing service facilitates the transfer of control of the agreed upon element from a seller to the transaction phrase token holder.

5. The system as recited in claim 1 , wherein the transaction phrase token processing service updates the processing information based upon receipt of an approval by the transaction phrase token holder corresponding to the transaction phrase token.

6. The system as recited in claim 5 , wherein the approval instructs the transaction phrase token processing service to automatically accept subsequent transactions with an identified vendor associated with a request to complete a transaction.

7. The system as recited in claim 5 , wherein the approval instructs the transaction phrase token processing service to automatically accept subsequent transactions with an item associated with a request to complete a transaction.

8. The system as recited in claim 5 , wherein the approval instructs the transaction phrase token processing service to automatically accept subsequent transactions having a defined or specified value associated with a request to complete a transaction.

9. The system as recited in claim 1 , wherein the transaction phrase token processing service further updates the processing information based upon receipt of a rejection by the transaction phrase token holder corresponding to the at least one transaction phrase token.

10. The system as recited in claim 9 , wherein the rejection instructs the transaction phrase token processing service to automatically reject subsequent transactions with an identified vendor associated with a request to complete a transaction.

11. The system as recited in claim 9 , wherein the rejection instructs the transaction phrase token processing service to automatically reject subsequent transactions with the good or service associated with the request.

12. The system as recited in claim 9 , wherein the rejection instructs the transaction phrase token processing service to automatically reject subsequent transactions having a defined or specified value associated with a request to complete a transaction.

13. The system as recited in claim 1 , wherein the set of characters corresponds to a set of one or more alphanumeric characters.

14. The system as recited in claim 1 , wherein the set of characters in their entirety have a secondary meaning to a transaction phrase token holder.

15. The system as recited in claim 1 , wherein the transaction phrase token is unambiguous among a class of transaction phrase tokens.

16. The system as recited in claim 1 , wherein the transaction phrase token processing service assigns new transaction phrase tokens, wherein each new transaction phrase token corresponds to an unambiguous set of characters associated with a transaction account, wherein the set of characters consists of a set of characters selected in their entirety by a transaction phrase token holder.

17. The system as recited in claim 16 , wherein the transaction phrase token processing service further causes a display of a user interface for obtaining a target transaction phrase token and determining whether the target transaction phrase token is unambiguous.

18. The system as recited in claim 17 , wherein the transaction phrase token service further suggests at least one available transaction phrase token via the user interface.

19. The system as recited in claim 18 , wherein each suggested transaction phrase token corresponds to a recommendation based on a transaction phrase token holder profile.

20. The system as recited in claim 19 , wherein the recommendations are based upon a set of characters associated with data corresponding to the transaction phrase token holder profile.

21. The system as recited in claim 19 , wherein the recommendations are based upon a search of a set of available transaction phrase tokens.

22. The system as recited in claim 1 , wherein the transaction phrase token corresponds to a transaction account previously associated with another transaction phrase token.

23. The system as recited in claim 1 , wherein the transaction phrase token processing service further provides a marketplace for transferring control of a transaction phrase token.

24. The system as recited in claim 1 , wherein the transaction phrase token processing service further provides an interface for associating metadata with transaction phrase tokens.

25. The system as recited in claim 1 , wherein the processing information associated with the selected transaction phrase token includes a specification of at least one of an acceptable transaction amount, an acceptable vendor, an acceptable transmitting party, a qualification level for a transaction, an expiration date, an acceptable agreed upon element, an unacceptable transaction amount, an unacceptable vendor, an unacceptable agreed upon element, and a required reputation score.

26. The system as recited in claim 25 , wherein the processing instructions associated with the selected transaction phrase includes threshold levels used in the processing of the requests to complete a transaction.

27. A system for facilitating transactions comprising: a computing system, having a processor and a memory, for executing programmable instructions that implement a data store including phrase token configuration information associated with transaction phrase tokens, wherein the transaction phrase tokens comprise a set of unambiguous characters, and wherein the transaction phrase tokens are associated with transaction accounts via the phrase token configuration information; and a computing system, having a processor and a memory, for executing programmable instructions that implement a transaction phrase token processing service, the transaction phrase token processing service processing a request from a requestor to complete a transaction related to a good or service, wherein the request includes a representation of a selected transaction phrase token provided verbally or in writing by a transaction phrase token holder to the requestor, wherein the phrase token configuration information associated with the selected transaction phrase token: identifies a transaction account associated with the selected transaction phrase token based on a transaction account identifier distinct from the selected transaction phrase token, and comprises one or more rules for processing transactions related to goods or services, and wherein the transaction phrase token processing service: identifies a rule from the one or more rules included in the phrase token configuration information, wherein the identified rule is associated with the good or service related to the request; processes the request using the identified rule; sends an approval request to the transaction phrase token holder regarding the processed request; receives a response to the approval request from the transaction phrase token holder; updates the identified rule based at least in part on the response to the approval request that is received from the transaction phrase token holder; and automatically accepts or rejects a subsequent request to complete a transaction based at least in part on the update of the identified rule.

28. The system as recited in claim 27 , wherein the transaction account is controlled by the transaction phrase token holder.

29. The system as recited in claim 27 , wherein the transaction includes a transfer of control of an agreed upon element from a party other than the transaction phrase token holder to the transaction phrase token holder.

30. The system as recited in claim 29 , wherein the transaction phrase token processing service facilitates the transfer of control of the agreed element from a seller to the transaction phrase token holder.

31. The system as recited in claim 27 , wherein the transaction phrase token processing service updates the phrase token configuration information based upon receipt of an approval by the transaction phrase token holder corresponding to the selected transaction phrase token.

32. The system as recited in claim 27 , wherein the transaction phrase token processing service updates the phrase token configuration information based upon receipt of a rejection by the transaction phrase token holder corresponding to the selected transaction phrase token.

33. The system as recited in claim 27 , wherein the set of characters corresponds to a set of one or more alphanumeric characters.

34. The system as recited in claim 27 , wherein the set of characters in their entirety have a secondary meaning to a transaction phrase token holder.

35. The system as recited in claim 27 , wherein the transaction phrase token is unambiguous among a class of transaction phrase tokens.

36. The system as recited in claim 27 , wherein the set of characters consists of a set of characters selected in their entirety by a transaction phrase token holder associated with a transaction phrase token assignment request.

37. The system as recited in claim 27 , wherein the transaction phrase token processing service assigns new transaction phrase tokens and wherein each new transaction phrase token corresponds to an unambiguous set of characters associated with a transaction account, wherein the set of characters consists of a set of characters selected in their entirety by a transaction phrase token holder associated with a transaction phrase token assignment request.

38. The system as recited in claim 37 , wherein the transaction phrase token processing service further causes a display of a user interface for obtaining a target transaction phrase token and determining whether the target transaction phrase token is unambiguous.

39. The system as recited in claim 38 , wherein the transaction phrase token processing service further provides a marketplace for transferring control of a transaction phrase token.

40. The system as recited in claim 38 , wherein the transaction phrase token processing service further causes a display of an interface for associating metadata with transaction phrase tokens.

41. The system as recited in claim 27 , wherein the transaction phrase token corresponds to a transaction account previously associated with another transaction phrase token.

42. The system as recited in claim 27 , wherein the phrase token configuration information associated with the selected transaction phrase token specifies at least one of an acceptable transaction amount, an acceptable vendor, an acceptable transmitting party, a qualification level for a transaction, an expiration date, an acceptable agreed upon element, an unacceptable transaction amount, an unacceptable vendor, an unacceptable agreed upon element, and a required reputation score.

43. A non-transitory computer-readable medium storing instructions executable by a computer system to facilitate transactions involving transaction phrase tokens comprising: token account interface instructions for selecting transaction phrase tokens, wherein: transaction phrase tokens are associated with transaction accounts via configuration information, wherein the configuration information comprises one or more rules for processing transactions related to goods or services, and the transaction phrase token consists of an unambiguous set of characters selected by a transaction phrase token holder associated with a token assignment request; and token processing instructions for: obtaining a request to complete a transaction related to a good or service, wherein: the request to complete the transaction corresponds to an identified transaction phrase token provided verbally or in writing by a transaction phrase token holder, and the configuration information associated with the identified transaction phrase token identifies a transaction account associated with the identified transaction phrase token based on a transaction account identifier distinct from the identified transaction phrase token, identifying a rule from the one or more rules included in the configuration information, wherein the identified rule is associated with the good or service related to the request; processing the request using the identified rule; sending an approval request to the transaction phrase token holder regarding the processed request; receiving a response to the approval request from the transaction phrase token holder; updating the identified rule based at least in part on the response to the approval request that is received from the transaction phrase token holder; and automatically accepting or rejecting a subsequent request to complete a transaction based at least in part on the updating of the identified rule.

44. The computer-readable medium as recited in claim 43 , wherein the transaction phrase token account interface instructions further obtains the configuration information for an identified transaction phrase token.

45. The computer-readable medium as recited in claim 44 , wherein the configuration information corresponds to a designation of a transaction account associated with the identified transaction phrase token as for receiving credits.

46. The computer-readable medium as recited in claim 44 , wherein the configuration information corresponds to a designation of a transaction account associated with the identified transaction phrase token as for making debits.

47. The computer-readable medium as recited in claim 43 , wherein processing the transaction request in accordance with configuration information associated with the identified transaction phrase token includes not completing the transaction upon receipt of a rejection by the transmitting party.

48. The computer-readable medium as recited in claim 47 , wherein the transaction phrase token processing instructions update the configuration information associated with the identified transaction phrase token based upon additional configuration information in the rejection.

49. The computer-readable medium as recited in claim 43 , wherein processing the transaction request in accordance with configuration information associated with the identified transaction phrase token includes completing the transaction upon receipt of an approval by the transmitting party.

50. The computer-readable medium as recited in claim 49 , wherein the transaction phrase token processing instructions update the configuration information associated with the identified transaction phrase token based upon additional configuration information in the approval.

51. The computer-readable medium as recited in claim 43 , wherein the set of characters in their entirety have a secondary meaning to a transaction phrase token holder.

52. The computer-readable medium as recited in claim 43 , wherein the transaction phrase token is unambiguous among a class of transaction phrase tokens.